Show J In Ins side l ide le I k X rr t r Stu Stuff If Jl k f By PAUL MALLON l f V WASHINGTON Ja Jan 22 Mr told the senators that It looks as If he will have to tap the the bankers' bankers tills for lor five billion dollars dol dol- lars more in new l Tap loans shortly He Tills Tins 0 of will need it to pay Bankers Blinkers the bonus rell relief f fand and the processing tax lax refund Forty Forty-ei Forty eight ht hours later the man who ho was to handle all aU this new fl- fl I for him quit without explanation 1 Naturally all the Insiders and Outsiders iders here have been adding up two ominous events events' an and get- get ing all aJl sorts of answers including hao inflation or whatever may occur t vou tou t C The v on certain thins thing is that thit most of the current answers are to be bo wong wrong No one knows ithe r real al answer including Mr tr Mor- Mor who c confesses as s much f The way this this' vast lible lible situation is sized up frankly Joy bY the best fiscal ls al authorities here hero Ja is js this jt t Mr probably will be beable beable able to avoid any or Inflationary tricks to get his mon money w if he hc wants to Those who know how he and President Roosevelt i Continued 1 on Page Five f Column Four I Inside ns de Stuff from Page Pas One have worked this money game believe believe be be- I be-I lieve that both of them will want to I There will wUl probably be no more I tricks now with the bookkeeping gold profit They will need that for the stabilization fund for a long time yet There probably will be no action to open the gold market as asked b by the committee for the nation Nor is there any likelihood of reopening the domestic gold and silver mar mar- One thing may be banked on The taxes you have seen so far are only the beginning of what you OU will see after the election Pleased and displeased fiscal authorities authorities authorities au au- au- au who know Roosevelt Roosevelt Roose Roose- Roosevelt velt and thoroughly seem to agree that both are essentially essentially essentially essen essen- sound money men That is they want to spend but spend within with wIth- in reason Where the pleased and displeased have disagreed and parted parted parted part part- ed is on the ques ques- Coolidge tion Uon of where the Grows line of reason lies Depressed T This his is s supposed supposed sup sup- u p- p posed to explain the departure of Assistant Treasury Secretary Coolidge Men with the combination to the treasury vaults say Mr Coolidge did not suddenly become displeased Nor was there any definite break on a definite policy polley Rather they noticed Mr Coolidge month by month lately becoming more and more depressed with the prospects of ot raising money to meet more and more expenditures There is one new reason why the experts believe that Roosevelt Roosevelt Roose Roose- Roosevelt velt and may safely raise the money in prospect It is that the country is no longer finicky on th the money question If It recent polls of public opinion are any in indication indication indication in- in the people are thinking and talking about spending unemployment unemployment I farm relief relict etc but not about Inflation In fact the bloc was so weak on the the bonus in congress the other day that it was unable to put up even evena even a good fight Two years ago Mr Roosevelt had to trick them out of putting something The Banks Banke over on him all sil- have Ha Plenty ver Of Cash The other reasons reasons rea rca sons are the same old ones which have enabled the unprecedented financing done so 80 far tar The banks are filled with money have havo no place to lend vast sums except ept to the tho government The inside of at the tax situation is isas isas isas as clear as the imminence of unexpected unexpected unexpected un un- un- un expected spending New dealers do not want any new taxes levied before belore election if it they can help it The They may have to Impose some excise taxes in connection connection connection con con- with the new farm program but they will hold bold until the last electoral vote voto is counted to delay the new general tax legislation which the current situation obviously obvious obvious- ly demands That is gooc good politics It Is equally clear where the tho new burden is going to fall when It Jt docs does There is no o more real revenue revenue reve reve- revenue I nue in the rich Higher because there are arc Income so few lew rich Nor Taxes is there much more to be gained from rom the poor and everyone else by sales and excise taxes After all the current state sales taxes are as much as that traffic will bear There is only one place where the government can get such revenue as is now being talked about That Tha is in taxes on incomes below They will pay the bill No one here is paying any at attention at at- to the new pressure campaign campaign campaign cam cam- of the committee for tor the nation na na- na- na tion The idea prevalent on the Inside in inside inside in- in side here is that opening of of the gold market would cause the price of gold to go down not up The reason why the agitation for lor reopening of the domestic gold and siver silver markets is not getting any any- where either Is that such action n might cause hoarding again The c current financial situation is no not yet so settled as to prevent a possible pos pas sible rush into two such basic com corn commodities out of respect to their fixed value which incidentally has not been entirely fixed during the thelast thelast thelast last six abc years Copyright 1936 for T The e Telegram |